Alphabet Inc. (NASDAQ:GOOG - Get Free Report)'s share price traded up 3% during mid-day trading on Monday . The company traded as high as $244.99 and last traded at $244.64. 12,021,266 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 23,602,783 shares. The stock had previously closed at $237.49.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a research report on Tuesday, October 7th. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Finally, Morgan Stanley upped their price objective on shares of Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.00.
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Alphabet Price Performance
The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $226.97 and its 200 day simple moving average is $189.99. The firm has a market capitalization of $2.96 trillion, a P/E ratio of 26.05, a PEG ratio of 1.60 and a beta of 1.00.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the business earned $1.89 earnings per share. The business's quarterly revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock worth $59,062,683 over the last ninety days. Insiders own 12.99% of the company's stock.
Institutional Trading of Alphabet
A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Revisor Wealth Management LLC lifted its stake in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock worth $572,000 after acquiring an additional 1,899 shares during the period. GAMMA Investing LLC lifted its stake in Alphabet by 19.5% in the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock worth $14,323,000 after acquiring an additional 14,931 shares during the period. Goldstone Financial Group LLC lifted its stake in Alphabet by 15.1% in the first quarter. Goldstone Financial Group LLC now owns 3,210 shares of the information services provider's stock worth $502,000 after acquiring an additional 420 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its stake in Alphabet by 21.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 2,794 shares of the information services provider's stock worth $436,000 after acquiring an additional 485 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Company Profile
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Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
See Also
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